All indices up
The Russell 2000 and the other major indices are higher this afternoon, moments before the U.S. Federal Reserve’s decision on interest rates. At 2:08 p.m. ET the Russell 2000 had added 4.18 points, or 0.50%, to 842.64. The Dow Jones Industrial Average was up 31.62 points, or 0.24%, to 13,459.35.
Verenium Corp. (Nasdaq: VRNM) is included on the team that has won a bid from the U.S. Department of Energy for a $125 million bioenergy research center to explore new ways to produce biofuels. Verenium has been allocated a total of $4.6 million over the five-year program to discover and develop new enzymes and enzyme cocktails to break down various types of biomass, the Cambridge, Mass.-based company said before the start of trading. Shares are up $0.49, or 9%, to $5.74.
Estimates for I.D. Systems, Inc. (Nasdaq: IDSY), which makes wireless monitoring and tracking products, have been reduced. Brokerage house Morgan Keegan & Co. is concerned that the company has not made an announcement about an USPS order, according to a research note after the market open. Hoover, the analysts, is maintaining its “outperform” rating, saying that Hackensack, N.J.-based I.D. Systems is expected to win large orders from Wal-Mart and USPS and secure new customers during the year. Shares are down $0.83, or 6%, to $13.20.
Shares of Everlast Worldwide Inc. (Nasdaq: EVST) are up $3.29, or 12%, to $29.78, following news that N.Y.-based investment firm Hidary Group has raised its buyout bid to $30.55 per share from $26.50 per share. That’s a total purchase price of $168.31 million for maker of boxing and fitness related sporting goods equipment. The company has not yet announced details of the offer.
In economic news, the price of oil briefly touched $70 a barrel following news of a steep decline in U.S. gasoline inventories.
